Experts predict a further increase in bankruptcy among entrepreneurs
2019 was closed with an increase in the number of announced bankruptcies and open restructuring (4.5%) compared to 2018. Experts predict that due to the economic slowdown in 2020 the number of bankruptcies of entrepreneurs will continue to grow.
In Q3 2019, Poland’s GDP amounted to 3.9% and was the lowest in 3 years. In turn, Coface’s data show that Poland’s GDP in 2020 is expected to reach 3.3%. The above, according to experts’ forecasts, will further increase the number of open restructurings and announced bankruptcies, which may increase by another 6% over the next 12 months.
The slowdown of the Polish economy affects the dependence of entrepreneurs on foreign sales markets. However, the European Union markets have been experiencing a slowdown for some time, which affects the financial condition of Polish exporters. In turn, the markets outside the European Union show the first signs of economic slowdown, which will also translate into a further increase in insolvency proceedings.